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Project Control Integrating Cost and Schedule in Construction by Wayne J. Del Pico, CPE | PDF Free Download.
Wayne J. Del Pico is President of W.J. Del Pico, Inc., where he provides construction management and litigation support services for construction‐related matters.
He has more than 33 years of experience in construction project management and estimating and has been involved in projects throughout most of the United States.
His professional experience includes private commercial construction, public construction, retail construction, and residential land development and construction.
Mr. Del Pico holds a degree in civil engineering from Northeastern University in Boston, where he taught construction‐related curriculums in Cost Estimating, Project Management, and Project Scheduling from 1992 until 2006.
He is also a member of the adjunct faculty at Wentworth Institute of Technology in Boston, where he presently teaches programs in Construction Cost Analysis, Estimating, Project Control, and Construction Scheduling.
Mr. Del Pico is a seminar presenter for the R.S. Means Company, where he lectures on topics from estimating to scheduling. He is the author of Plan Reading and Material Takeoff (1994) and Estimating Building Costs (2004 and 2012) and is a co-author of The Practice of Cost Segregation Analysis (2005).
His construction experience and knowledge of the industry qualified him to be the president of the Builders Association of Greater Boston in 2010. He is also a practicing third‐party neutral for the American Arbitration Association where he hears construction‐related arbitration cases.
At the upper level of the project management process is project control. It can be part of the day‐to‐day responsibilities of the project manager, or it can be under the jurisdiction of the more specialized project analyst.
Project control combines the management skills of the project manager with the analytical focus of the professional accountant.
The construction industry has always been cost and schedule conscious; however, in lean economic times, that consciousness becomes a mantra. In today’s commercial construction market, adhering to a schedule and maintaining a delivery date often define the difference between success and failure.
Contracts carry substantial penalties for performance failures in the form of liquidated damages as well as the actual and consequential damages that may result from the delay.
Getting to the finish line on time is critical. No less critical for the contractor is controlling costs in the process.
What benefit is it if the project is delivered on time, but its costs exceed the stipulated sum of the contract and plunge the contractor into financial chaos? The mainstream use of computers in the construction process has been a tremendous boon to the industry; at the same time, it has added a layer of complexity to the management process.
The data is collected, collated, updated, filtered, and finally released for the project manager to analyze and interpret.
The resulting information, subjective as it may be, is driving the decision process, leaving the manager with little doubt as to the appropriate real-time status of the work from a cost and schedule perspective.
With the correct and timely information, decisions can be made and actions implemented. Productivity studies have proven that human performance and its corresponding labor costs have always been the wild card in the construction process.
In comparison, material costs are more easily definable and to a large degree finite. Accurate estimating procedures and recognized professional standards help to pinpoint material quantity and cost.
This is not so with labor. Despite standardized procedures for most tasks and a bounty of data on production rates, small errors can force labor costs to run amok. Labor requires the lion’s share of management time to estimate, schedule, monitor, and control.
Productivity for even the simplest task can be affected by a plethora of variables from crew size to weather. Productivity models, once created for an individual project, must be monitored and controlled, and deviations from those models require corrective actions.
For projects that extend over multiple years, the concept of project control becomes even more of a concern.
Costly projects with labor‐intensive tasks such as process piping or electrical distribution lines must be monitored to ensure adherence to the estimated productivity rates. With these types of tasks, a small decrease in productivity can become chronic over time and put a project in the red quickly.
The key to successful project control is the fusing of cost to schedule whereby the management of one helps to manage the other. This requires that a task’s cost and its duration have a direct relationship, and not be just the scheduler’s arbitrary assignment.
Ensuring that the relationship is correct and setting the appropriate baseline for tracking is the domain of the project control expert.
Accurate project control also serves as the basis of historical cost data for fine-tuning estimated productivity on future projects.
This Project Control Integrating Cost and Schedule PDF book will explore the reasons behind and the methodologies for proper planning, monitoring, and controlling both project costs and schedules.
It will take a fresh, simplified look at the topic of project control as it is applied in the construction industry today.
Chapters 1 The Basics explains project management theory and a brief history of the science. It discusses the different approaches to project management and the five processes within the Traditional Approach.
It reviews the roles and goals of the project manager in the construction industry today. It defines the role of the contract documents in the controls process. Lastly, the relationship between the schedule and the budget is explored.
Chapter 2 Introduction to Project Control presents an overview of project control and the role of schedule and cost. It defines the terminology behind the process with formulas common to the control process and the project control cycle.
Chapter 3 Pre‐Construction Planning elaborates on the importance of proper planning in the preconstruction phase.
It provides a window to the key personnel and their responsibilities in the cycle. This chapter outlines the importance of communication and setting baselines for performance measurement.
Chapter 4 The Schedule is a review of basic scheduling types and methods, with a detailed review of the critical path method. It explains the use of CPM as a management tool.
Chapter 5 The Budget highlights the cost side of the controls process and the fundamentals of going from estimate to budget. This chapter discusses the specifications and the organizational structure of the budget.
It reviews the creation of the cost breakdown structure and its relationship to the schedule.
Chapter 6 Integrating the Schedule and the Budget provides detail on how both of these come together to create a full view of project control. It provides a brief introduction to developing the Schedule of Values.
Chapter 7 Calculating and Analyzing Progress explores how performance is measured and expands on the concept of Earned Value Management for both fixed and variable budgets.
It explains the schedule and cost performance measurements and indicators so crucial to determining project status.
Chapter 8 Analyzing and Reporting Variances in Schedule and Cost provides a look at how to interpret and display project data through common tools such as the S‐curve and root cause analysis, and how the data can be reported for use.
Chapter 9 Recognizing Trends and Forecasting Performance explains how the measurements and the derived data can be used to recognize emerging trends and how the same data can be used to forecast future performance.
It also explains key indicator values for predicting final performance.
Chapter 10 Productivity defines productivity and why it is so important for accurate project control. It defines factors, both controllable and uncontrollable, that can affect productivity.
Chapter 11 Acceleration and Schedule Compression outlines the different types of acceleration, including why and how they are used. It also considers schedule compression and what can be expected.
Finally, it looks at time‐cost trade‐off analysis and what it means in terms of task performance.
Chapter 12 Resource Management develops the concept of resources and how they can impact a project. Resource and material management is introduced as a practical method for control.
Chapter 13 Risk Management considers the different types of risk a project will be exposed to and how risk can be managed. It also explains how risk is funded, and how its probability is determined.
Chapter 14 Project Closeout discusses how projects are wrapped up and the importance of sharing what has been learned, both good and bad.
Accurate construction project control is an essential skill of every successful project manager. Project Control‐Integrating Cost and Schedule in Construction builds on the foundation of project management principles for the extra level of professional control so many projects are in need of.
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